New Federal Terrorism Insurance Law Will Not End Disputes Over Coverage
In the Feb. 11 edition, I wrote a column discussing potential problems with the definition of terrorism in the then-recently adopted terrorism exclusions.
Just as everyone got a handle on the exclusions, Congress passed the Terrorism Risk Insurance Act of 2002. The act was immediately effective when President George W. Bush signed it on Nov. 26, nullifying existing terrorism exclusions to the extent that they exclude losses that would be covered under the act.
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